Nigeria’s Economy: Accountant General shows optimistic despite debt profile

Acheme Jack, Kano

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The Accountant General of the Federation Ahmed Idris has urged Nigerians not to be worried about the debt profile of the nation as the servicing of the debt at the rate of 70 percent of the total national income will not destabilized the economy.

Ahmed gave the indication at a three day, third National Treasury Workshop with the theme “Accountability and Transparency as catalyst to  Economic Recovery: the Role of the Treasury and other Stakeholders” being held in Kano state north western Nigeria.

He said the debt settlement process being followed will not cause the nation any problem as strategies have been initiated by the government to cushion the effect of the debt profile.

“We are doing our best to meet our obligations locally and internationally according to the agreements, even though debt servicing is a great burden. We meet them as at when due. We do not have any problem in settling our debts.” he said.

He added that a lot of revenue generating measures has been taken on how to manage government’s expenditure with the remaining 30 percent

“Critical among the measures roll out by the government include the strategic revenue growth initiative under which all the revenue generating ministries, parastatals are given portfolios to meet revenue targets.”

He said 30 percent is being spent efficiently and diligently.

“ We have stop a number of leakages, and we would continue to do that because that is what is required to have an efficient  public expenditure, with prudent accountability, in order to achieve the required  efficiency”. Said Ahmed

The emir of Kano Muhammadu Sanusi expressed concerns about the nation’s debt profile and tasked the accountant general to be prudent enough in the management of the country’s treasury in  order to balance the sheet.

“It is very important and honorary responsibility to manage the nations treasury especially at this time, where the physical position of government on the balance sheet has been stretched because of debt service,” advised Sanusi.

The monarch congratulated Ahmed for his reappointment as accountant general of the Federation for the second time by President Muhammadu Buhari who saw him a honest and transparent man.

Suzan O